The Growth Series: super contribution strategies that work harder
When you’re young, it feels like your super grows slowly so it’s hard to imagine that one day it will turn into a nest egg. But as retirement approaches, that’s where the magic really starts to show. Our three-part series will show you how to make your super work harder so you can make the most of your retirement.
In the first article, we cover before-tax strategies that can accelerate that growth.
What are before-tax strategies?
These are contributions made from your salary before you pay tax. More formally, they’re known as concessional contributions. These include salary sacrifice, deductible contributions, and using unused caps from previous years. Working in banking, you already know the golden rule: small, consistent amounts add up faster than most people expect. Before-tax super contributions work the same way – and they’re one of the easiest levers to pull to make your super work harder.
1. Salary sacrifice: Pay yourself first, tax-effectively
Salary sacrifice means asking your employer to redirect part of your pre-tax salary into super, instead of it landing in your bank account and getting taxed at your marginal rate.
Inside super, that same money is generally taxed at just 15% – so for most people earning above the tax-free threshold, it’s an immediate tax saving, not just a ‘save for later’ strategy.
It’s also quietly powerful because it’s automatic. Once it’s set up through your employer’s payroll, there’s no ongoing decision to make each pay cycle. It’s the same ‘invisible’ discipline that makes automatic transfers into a savings account work so well. While automated payments can provide a significant boost, you remain in control. For example, you can adjust the fortnightly amount or even cancel it at any time to suit your circumstances.
2. Personal deductible contributions: Flexibility for irregular income
Not everyone's income is steady enough for salary sacrifice. Bonuses, leave payouts, or a lump sum from selling shares don't always suit an arrangement locked in through payroll.
That's where personal deductible contributions come in: you contribute the money yourself, then claim a tax deduction when you lodge your return. To claim a tax deduction for your personal contributions you need to complete a ‘Notice of intent to claim or vary a deduction for personal super contributions’ form which is available on the
ATO website
.
Complete the form and send it to ANZ Staff Super after you have made the contribution. You will receive a confirmation letter and you can proceed with claiming a tax deduction through your tax return.
The result is much the same as salary sacrifice. Generally, money ends up taxed at 15% instead of your marginal rate, but you have more control over the timing of your contributions. It's a useful option if you've had a good year and want to use some of this to top up your super before 30 June, or if your income fluctuates and you'd rather determine your contribution amounts after the fact.
3. Carry-forward: Catching up if you’re beneath the cap
Here's the one many people miss. The general concessional (before-tax) contributions cap is $32,500* this financial year, but if your total super balance was under $500,000 at 30 June of the previous financial year, and you haven't used your full concessional cap in any of the past five years, you may be able to carry the unused amounts forward and contribute more than your concessional cap in a single year.
Think of it as a rolling five-year allowance rather than a strict "use it or lose it" annual limit. It's particularly useful if you've had a career break, moved to part-time work, or simply haven't prioritised extra contributions in past years. That unused concessional cap doesn't disappear straight away – it rolls over for up to five years – so it's worth checking your available concessional cap via myGov rather than assuming it's unlimited.
*Correct as at 5 August 2026. Contribution caps are indexed periodically so check the ANZ Staff Super website or the ATO website for the current cap. The information provided in this article is general in nature and does not take into account your personal financial objectives, situation or needs. You should consider your objectives, financial situation or needs, and the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the ANZ Staff Super products before making any decision about ANZ Staff Super. Any past performance information is given for illustrative purposes only and should not be relied upon as an indication of future performance.